This year is shaping up to be a very positive one for residential construction in Houston, according to the latest numbers from Dodge Data & Analytics.
In March, residential construction spending in Houston totaled $736 million, a 20 percent decline from March 2015; even more, the Bayou City’s year-to-date spending now totals $2.157 billion, a 23 percent decline over the same time period in 2015. Houston’s sending remains very high, but it is falling by double digits from 2015.
See our chart below for more perspective on how Houston’s new construction spending compares with other large metro areas:
| Metro Area | Residential Construction Spending – March 2016 (In Millions) | YOY Change | YTD 2016 Construction Spending (in Millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $549 | -25% | $1,767 | 15% |
| Boston | $612 | 82% | $1,486 | 38% |
| Chicago | $548 | 4% | $1,157 | 38% |
| Dallas | $802 | -6% | $2,588 | 5% |
| Houston | $736 | -20% | $2,157 | -23% |
| Los Angeles | $643 | 39% | $1,398 | 9% |
| Miami | $881 | 50% | $1,975 | 31% |
| New York | $2,080 | 10% | $5,594 | 13% |
| Seattle | $347 | -30% | $1,109 | -10% |
| San Francisco | $468 | 117.8% | $1,162 | 92% |